The ASEAN-Korea Centre, through its ASEAN Committee in Seoul, facilitated a meeting between ambassadors of 10 Southeast Asian nations and top executives of LG Electronics at LG’s Seocho R&D campus in southern Seoul on Tuesday.

The meeting was organized to look for ways Korean global brands like LG can further penetrate the Southeast Asian market and, for the countries there, increase technology and know-how sharing and receive foreign direct investment.

The foreign envoys were briefed by Kim Ki-wan, LG executive vice president and global marketing officer, on the leading electronics company’s recent projects and Southeast Asian strategy. Diplomats from Laos, Malaysia, the Philippines, Singapore, Vietnam and Indonesia then discussed with Kim how future cooperation can be enhanced for not just LG but also among Korean companies broadly.

LG Electronics has corporate offices and other investments in six Southeast Asian nations ― Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam ― and production platforms in three, making TVs, refrigerators, air conditioners, cell phones and other goods.

The ASEAN ambassadors expressed much interest in the firm’s expansion within Southeast Asia. Philippine Ambassador to Korea Luis T. Cruz said he wants to attract LG investment to create jobs in his country and the Philippines could also benefit from a transfer of advanced technology. LG Electronics had a factory in the Philippines, but closed it during the Asian financial crisis of the 1990s.

The ASEAN-Korea Centre also builds business networks between the business circles in Korea and Southeast Asia. It has been supporting Korean companies in making inroads into the ASEAN market, responding to interest by Korean companies in expanding operation in the region. ASEAN is looking toward the official launch of the ASEAN Economic Community in 2015.

By Philip Iglauer (ephilip2011@heraldcorp.com)